Trump escalates his attack on Fed: ‘My biggest threat’
WASHINGTON (AP) — President Donald Trump is calling the Federal Reserve “my biggest threat” because he thinks it’s raising interest rates too quickly.
Trump says he doesn’t speak with Chairman Jerome Powell because of the Fed’s independence, but “I’m not happy with what he’s doing because it’s going too fast” in raising rates at a time when inflation has remained relatively low.
Asked about his decision to replace Janet Yellen with Powell, Trump said: “Can I be honest, I’m not blaming anybody. I put him there and maybe it’s right, maybe it’s wrong but I put him there.”
Trump made his comments Tuesday in an interview with Fox Business Network’s Trish Regan. Critics have expressed concern that the president’s continued attacks on the Fed threaten its ability to operate free of political pressure.